Business
CBN grants final approval for new finance firm to operate in Nigeria
The Central Bank of Nigeria (CBN) has granted final approval to Ascensia Finance Company Limited to operate as a finance company in the country, according to an official letter dated April 10, 2025, seen by Nairametrics. The apex bank conveyed the decision in a correspondence addressed to the Managing Director/CEO of Ascensia Finance Company, confirming […]
CBN injects $197.71 million to boost FX liquidity
The Central Bank of Nigeria (CBN) has supplied $197.71 million to the foreign exchange market through sales to authorised dealers. The apex bank’s director of financial markets department, Omolara Duke, disclosed this in a statement on Saturday in Abuja. She noted that the intervention aligned with the apex bank’s ongoing commitment to ensuring adequate liquidity […]
Dangote refinery, NNPC: More fuel stations increase pump price in Nigeria
The price of Premium Motor Spirit, popularly known as fuel, has recorded a significant increase in the past days, which may worsen the economic hardship Nigerians face. MRS, a filling station partner of Dangote Refinery, kicked off the latest fuel price increase when it adjusted its petrol pump to between N925 and N950 per litre […]
JP Morgan bullish on Nigeria, predicts N1450/$ by end of 2025
New crude collateralised deals to unlock $9.5 billion fresh inflowAs expected, the change in the leadership of the Nigerian National Petroleum Company Limited (NNPCL) and the release of the country’s net foreign exchange reserves (NFER) are changing the market tide. JP Morgan, a leading global investment bank, is bullish on the economy in the short […]
Dangote Petrol: MRS increases fuel price
MRS filling stations, partner of Dangote Refinery, has increased premium motor spirit price to N930 and N950 in Lagos and Abuja. DAILY POST observed on Saturday that MRS filling station along Kubwa Expressway in Abuja has implemented the new price template. This means that the price of petrol has been increased between N70 and N80 […]
Landing cost of petrol increases to N885 per litre
The landing cost of imported premium motor spirit increased to N885 per litre on Wednesday from N797. The Major Energy Marketers Association of Nigeria disclosed the rise in the landing cost of petrol in its daily energy bulletin released on Wednesday. This represents 88 increase from the N797 per litre landing cost of petrol last […]
Naira returns to depreciation against dollar at official market
The naira returned to depreciation against the dollar at the official foreign exchange market on Tuesday. This comes as Central Bank of Nigeria exchange data showed that the Naira fell to N1,532.39 per dollar on Tuesday from N1,531.19 on Monday. This means that the Naira weakened slightly against the dollar on a day-to-day basis by […]
Fuel price: PETROAN cautions Nigerians against panic buying
The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has cautioned Nigerians against panic buying amid uncertainty over the continuation of the naira-for-crude sale deal between Dangote Refinery and the Nigerian National Petroleum Company Limited, NNPCL. The spokesperson of PETROAN, Joseph Obele, made this known in a statement on Tuesday. This comes amid concerns […]
Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt – Marketers, depot owners
Petroleum products marketers and depot owners in Nigeria’s oil and gas sector have accused Dangote Refinery of blackmailing the Nigerian government over a naira-for-crude sales deal, amid the premium motor spirit price uncertainty. This comes as the federal government’s technical Sub-Committee on Domestic Sales of Crude Oil and Refined Products failed to meet on Monday […]
Oyo trains 1,950 farmers in agricultural enterprises
The Oyo State government has commenced a capacity-building programme for 1,950 farmers across the 33 local councils in the state, as part of its continued efforts in ensuring food security. While declaring the training opened in Ibadan, the Commissioner for Agriculture and Rural Development, Olasunkanmi Olaleye, said the event will create a sustainable agricultural ecosystem […]